One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases.
It is a $113B healthcare company. Revenue grew 9.8% over the last year, and it keeps 14¢ of every dollar of sales as profit. It trades at 21.6× earnings — near the lowest of its own history.
- Website
- medtronic.com
- Location
- Galway
- Employees
- 95 000
- Sector
- Healthcare
- Founded
- 1949
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, quality and moat; Growth lags behind.
Valuation77
- P/E vs own history4th pct · 25/25
- FCF yield5.4% · 20/25
- P/S3.0x · 20/25
- EV/EBITDA16.4x · 12/25
Growth43
- Revenue CAGR3.5% · 6/25
- Net income CAGR-1.2% · 0/25
- EPS CAGR ~5Y7.0% · 12/25
- Fwd implied growth46.3% · 25/25
Profitability52
- ROICn/a · 0/25
- ROE10.6% · 12/25
- Net margin13.9% · 20/25
- Operating margin18.1% · 20/25
Health50
- Altman Zn/a · 0/25
- Current ratio2.07 · 25/25
- Interest coverage11.0x · 25/25
- Net cash / debtn/a · 0/25
Quality97
- Piotroski F7/9 · 22/25
- Beneish M-7.47 · 25/25
- FCF conversion117% · 25/25
- Margin stabilityσ 2.5% · 25/25
Moat75
- ROIC >12% years0/10 yrs · 0/25
- Median gross margin67.4% · 25/25
- FCF-positive years11/11 yrs · 25/25
- Worst-year net marginworst 10.4% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026IPOMedtronic separated its diabetes business into MiniMed Group, Inc
- 2026ProductMedtronic launched an exchange offer as part of its planned separation of MiniMed
- FY2022FinancialBest year on record$5.04B net income
- 2018AcquisitionThe company acquired Mazor Robotics for $1.64 billion ($58.50 per American Depository Share or…
- FY2016FinancialProfitable every year on record11 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$28.8B in first reported year
- FY2016FinancialPositive free cash flow every year since11-year streak
- 2015AcquisitionMedtronic rebased to Ireland following its acquisition of Irish-based Covidien in 2015
- 2007AcquisitionMedtronic purchased Kyphon, a manufacturer and seller of spinal implants that are necessary for procedures…
- 2001AcquisitionMedtronic purchased Minimed, to form Medtronic Minimed
- 1986AcquisitionAn independently-operating Dutch pacemaker manufacturer, Vitatron, acquired by Medtronic in 1986, is now a European…
- 1957ProductIts work in heart rhythm therapies dates back to 1957 when Bakken developed the first wearable heart pacemaker to…
- 1957MilestoneThe deficiencies of artificial pacemakers at the time became evident during a power outage over Halloween in 1957
- 1949FoundedMedtronic was founded in 1949 in Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (65.7%)
- Strong cash conversion — FCF is 16.3% of revenue
- Interest covered 11.0× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+9.8% YoY
- Profitable — makes more than it spends$5.23B TTM
- Profit growing — earnings are higher than last year+9.7% YoY
- Generates cash — cash left after running and investing$6.13B TTM
- Debt under control — could handle its obligationscurrent ratio 2.07
- Established company — not a micro-cap — lower blow-up risk$113B market cap
- Not printing shares — share count not ballooning — you keep your slice-4.9% shares over ~5y
- Proven track record — years of profitability behind it11/11 profitable years
- Financially stable — balance sheet not near distresshealth score 50/100
- Pays a dividend — returns cash to shareholdersyield 3.22%
- Valuation not extreme — price not wildly above earningsP/E 21.6
Peer comparisonMedtronic plc vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| MDT this company | $112.6B | 21.6 | +9.8% | 13.9% | Mixed |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: MDT vs LLY · MDT vs JNJ · MDT vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/MDT
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of MDT on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $88.01 · market cap $113B.